I’m really struggling on crafting the appropriate rental agreement and wanting to provide a level of separation and degree of confidentiality between his roommates, mainly to avoid any potential interpersonal conflicts.

I'd like to be able to estimate my Cap Ex, and how much I should be appropriately setting aside monthly.

If I charged tenants for water, even if I discounted the rent appropriately, it would create bad optics from the tenants' perception and would create a competitive disadvantage for me, having to "sell" each prospect on the merits of being in control of their own water usage, since having it included is what everyone expects.(2)  Here in NY the water bill goes with the property, not the occupant. 

I would suggest going thru the offers list and outline all contingencies appropriately.

However, as a college rental we wondering if this structure would be appropriate:  5 people - $16006 people - $17107 people - $1820 (We do not want any more than 7 people in the home.) 

Would it be more appropriate to just remove that and know that investors with calculate furnishing costs separately?  

I’m really struggling on crafting the appropriate rental agreement and wanting to provide a level of separation and degree of confidentiality between his roommates, mainly to avoid any potential interpersonal conflicts.

There’s some opportunity in the single family / multi family space depending on your location you decide on and if you can self manage appropriately. 

What would be an appropriate profit split in this scenario? 

Tain't necessarily so; especially when different district courts reach different conclusions.And the supreme court has already established that rent and eviction moratoriums are an appropriate power of the government, as far back as the influenza epidemics of the late 1800s, 1920s and the polio epidemic of the 1950s.